Hi, this is Ravi. I have over three years of experience in accounting. Today, I’ll be explaining Section 194R in a detailed way Imagine you’re running a successful business. To keep things moving smoothly, you often reward your partners, dealers, or agents with perks like holiday trips, promotional gifts, or […]
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Recent Changes in Professional Tax Laws.
Professional tax is a state-level tax in India imposed on individuals earning income from various professions, trades, or employment. Each state in India has its own laws and regulations regarding professional tax. Staying updated with the latest changes in these laws is crucial for compliance and avoiding penalties. This guide […]
Continue readingIncome Tax Outstanding Demands Waived Effective February 2024
Hey everyone! I’ve got some exciting news for all you taxpayers out there. Guess what? The government has come up with a plan to make some of your outstanding income tax bills vanish into thin air, starting from February 2024. Yup, you heard it right – you might not have […]
Continue readingTDS section 194R of the Income Tax Act
Hi everyone! In my today’s blog, I will let you know the TDS section of 194R. What is TDS section 194R? Section 194R of the Income Tax Act, 1961, introduced in the 2022 Union Budget, mandates the deduction of tax at source (TDS) on benefits or perquisites (perks) provided to […]
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